Deferred rent payment for families living in Social Housing Fund (FSV) homes
Banks will defer rental payments for up to three months for those families affected by COVID-19 who are living in a home that is part of the Social Housing Fund (FSV). This fund was created in 2013 and has more than 10,000 residences throughout Spain that are owned by banks.
This new measure from the banking sector to offset the effects of the coronavirus crisis on the most vulnerable groups in society is in addition to the moratorium on mortgage payments announced last week by the Government, and which banks have already begun to implement.
Through this deferred rent payment, Spanish banks are taking yet another step to supporting society during these difficult times. Now more than ever, financial institutions want to be there for every citizen and they are fully committed to helping their customers, and thus put Spain's economy on the path to a quick recovery.
The banks that will implement this measure are Santander, BBVA, Sabadell, Abanca, Bankinter, ING, Deutsche Bank and Banca March, which are members of the Spanish Banking Association (AEB), as well as UNACC-member entities.